IDEAS home Printed from https://ideas.repec.org/a/taf/apbizr/v19y2013i4p444-460.html
   My bibliography  Save this article

How red is China's red capitalism? Continuity and change in China's financial services sector during the global crisis

Author

Listed:
  • Bernadette Andreosso-O'Callaghan
  • J�rn-Carsten Gottwald

Abstract

Chinese capitalism cannot be captured by theoretical frameworks and concepts such as the 'Varieties of Capitalism' approach. Despite its integration into the world economy and the financial crises, the country has kept a stable Leninist basis of formal institutions. The case of financial services shows: (i) a resilience of the sector to the 'Great Financial Crisis' of 2008 and (ii) the use of the crisis as an opportunity. Examining the control of Chinese financial services shows that private interests and the regulatory authorities are intimately linked to the state apparatus and that there is no radical break in sight with China's unique blend of party state-led capitalism.

Suggested Citation

  • Bernadette Andreosso-O'Callaghan & J�rn-Carsten Gottwald, 2013. "How red is China's red capitalism? Continuity and change in China's financial services sector during the global crisis," Asia Pacific Business Review, Taylor & Francis Journals, vol. 19(4), pages 444-460, October.
    • Handle: RePEc:taf:apbizr:v:19:y:2013:i:4:p:444-460
    DOI: 10.1080/13602381.2013.823711
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/13602381.2013.823711
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/13602381.2013.823711?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Nicholas R. Lardy, 2012. "Sustaining China's Economic Growth after the Global Financial Crisis," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 6260, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Lucía Morales & Bernadette Andreosso-O’Callaghan, 2019. "Challenges and Opportunities Brought to the Chinese Economy by Brexit and the New US Administration," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 18(2), pages 145-171, August.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Andre Nassif & Carmem Aparecida Feijo & Eliane Araújo, 2016. "Structural change, catching up and falling behind in the BRICS: A comparative analysis based on trade pattern and Thirlwall’s Law," PSL Quarterly Review, Economia civile, vol. 69(279), pages 373-421.
    2. Carmen M. Reinhart & Takeshi Tashiro, 2013. "Crowding out redefined: the role of reserve accumulation," Proceedings, Federal Reserve Bank of San Francisco, issue Nov, pages 1-43.
    3. Nicholas R. Lardy & Nicholas Borst, 2013. "A Blueprint for Rebalancing the Chinese Economy," Policy Briefs PB13-2, Peterson Institute for International Economics.
    4. Karlsson, Rasmus, 2012. "Carbon lock-in, rebound effects and China at the limits of statism," Energy Policy, Elsevier, vol. 51(C), pages 939-945.
    5. Purwins, Sebastian, 2022. "Dynamics and consequences: The economic/ecological double crisis in China and the bauxite-aluminium industry in Ghana," Forschungsberichte der ARL: Aufsätze, in: Spatial transformation: Processes, strategies, research design, volume 19, pages 129-140, ARL – Akademie für Raumentwicklung in der Leibniz-Gemeinschaft.
    6. Kellee Tsai, 2015. "The Political Economy of State Capitalism and Shadow Banking in China," HKUST IEMS Working Paper Series 2015-25, HKUST Institute for Emerging Market Studies, revised May 2015.
    7. Paul De Grauwe & Zhaoyong Zhang & Rod Tyers, 2016. "Slower Growth and Vulnerability to Recession: Updating China's Global Impact," Scottish Journal of Political Economy, Scottish Economic Society, vol. 63(1), pages 66-88, February.
    8. Jane Golley & Rod Tyers & Yixiao Zhou, 2016. "Contractions in Chinese Fertility and Savings: Long-run Domestic and Global Implications," RBA Annual Conference Volume (Discontinued), in: Iris Day & John Simon (ed.),Structural Change in China: Implications for Australia and the World, Reserve Bank of Australia.
    9. Rod Tyers, 2016. "China and Global Macroeconomic Interdependence," The World Economy, Wiley Blackwell, vol. 39(11), pages 1674-1702, November.
    10. Julia de Furquim Werneck Moreira & Gilberto de Assis Libânio, 2018. "Macroeconomic policies after the 2008 financial crisis: lessons from brazilian and chinese experiences," Textos para Discussão Cedeplar-UFMG 585, Cedeplar, Universidade Federal de Minas Gerais.
    11. David Dollar & Benjamin F. Jones, 2013. "China: An Institutional View of an Unusual Macroeconomy," NBER Working Papers 19662, National Bureau of Economic Research, Inc.
    12. Bjorn Gustafsson & Sai Ding, 2017. "Unequal Growth: Unequal Growth: How Household Incomes and Poverty in Urban China Have Developed since 1988, with an Emphasis on the Period from 2007 to 2013," University of Western Ontario, Centre for Human Capital and Productivity (CHCP) Working Papers 201718, University of Western Ontario, Centre for Human Capital and Productivity (CHCP).
    13. Françoise Lemoine & Deniz Ünal, 2012. "Scanning the Ups and Downs of China’s Trade Imbalances," Working Papers 2012-14, CEPII research center.
    14. Tyers, Rod, 2015. "International effects of China's rise and transition: Neoclassical and Keynesian perspectives," Journal of Asian Economics, Elsevier, vol. 37(C), pages 1-19.
    15. Rod Tyers & Yixiao Zhou, 2019. "Financial integration and the global effects of China's growth surge," CAMA Working Papers 2019-09, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    16. Reinhart, Carmen, 2012. "Capital Inflows, Credit Booms and Their Risks," MPRA Paper 50981, University Library of Munich, Germany.
    17. Guonan Ma & Robert McCauley & Lillie Lam, 2013. "The Roles of Saving, Investment and the Renminbi in Rebalancing the Chinese Economy," Review of International Economics, Wiley Blackwell, vol. 21(1), pages 72-84, February.
    18. Hao Chen & Qiyan Wu & Jianquan Cheng & Zhifei Ma & Weixuan Song, 2015. "Scaling-up Strategy as an Appropriate Approach for Sustainable New Town Development? Lessons from Wujin, Changzhou, China," Sustainability, MDPI, vol. 7(5), pages 1-23, May.
    19. Christian Milelli & Alice Nicole Sindzingre, 2013. "Chinese Outward Foreign Direct Investment in Developed and Developing Countries: Converging Characteristics?," Working Papers hal-04141177, HAL.
    20. Guangdong Xu, 2015. "The Institutional Foundations of China’s Unbalanced Economy," Europe-Asia Studies, Taylor & Francis Journals, vol. 67(9), pages 1351-1370, October.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:apbizr:v:19:y:2013:i:4:p:444-460. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/FAPB20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.